Vital Insurance You Need in Your 20s

Vital Insurance You Need in Your 20s

What insurance do I need in my 20s?

Even though money can be tight when you’re in your 20s, you should still aim to get appropriate insurance coverage in case the worst happens. Whatever life has in store for you, whether it’s college, a family, traveling the world or moving abroad, there’s always insurance available to help keep you safe and covered.

Health Insurance

Being young and healthy doesn’t immunize you from medical bills, unfortunately. One accident or illness could saddle you with five- or even six-figure debt. If you’re under 26, you can remain on your parents’ policy under a federal law that is part of the Affordable Care Act. If you go without coverage, you could be subject to a high fine and face extortionate health care bills if an accident or illness does occur.

Car Insurance

When you get a car, you’ll need to insure it. Insurance rates vary according to everything from who is driving the car to your driving history. If you’ve been driving sensibly since a teenager, then your premiums will be lower compared to being older by recently passing your test.

Renters Insurance

While you have to obtain homeowners insurance when you get a mortgage, typically no one forces you to buy renter’s insurance. Be aware that the landlord is not responsible for your belongings in the event of a disaster. You could easily lose everything in an apartment fire, a natural disaster, or a break-in. What’s more, standard renter’s insurance policies provide personal liability coverage, which kicks in if someone gets injured on your property.

Life Insurance

As someone young and healthy, you may not be thinking about how your loved ones will cope financially if you pass away unexpectedly. If you have dependents or debt, it’s important to consider securing life insurance. This can help to protect your loved ones meet financial needs that you previously provided once you’re gone.

For more information about selecting the right insurance policies to suit your needs in Phoenix, Arizona, contact the team at American Premier Insurance. As life insurance experts, we’re able to walk you through the process of selecting the right policy for your lifestyle and budget.